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1,3,5-year Treasury ARMs |
Posted
on Wednesday, August 11, 2004 - 04:59 PM PST
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If you are looking for an introductory rate that will help you qualify for a larger loan, but want that introductory rate for a longer time, check out our adjustable rate Treasury ARMs.
These are our most popular ARM loans. You can choose a fixed introductory rate
period of 1, 3, or 5 years. The protection of a periodic rate cap limits the
amount of each adjustment. There is no negative amortization. And, your loan
is assumable. Here are the details: *1-Year Treasury ARM
Index: |
Monthly average of Treasury securities with a constant maturity of one year
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First Adjustment: |
After one year |
Cap Per First Adjustment: |
2%
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Periodic Adjustments: |
One per year | | Cap Per Periodic Adjustment: |
2% |
Lifetime Cap: |
6% over start rate |
Floor: |
None |
Assumable: |
Yes |
*3 / 1 Treasury ARM
Index: |
Monthly average of Treasury securities with a constant maturity of one year |
First Adjustment: |
After three years |
Cap Per First Adjustment: |
5% |
Periodic Adjustments: |
One per year after third year |
Cap Per Periodic Adjustment: |
2% |
Lifetime Cap: |
6% over start rate |
Floor: |
None |
Assumable: |
Yes | *5 / 1 Treasury ARM
Index: |
Monthly average of Treasury securities with a constant maturity of one year |
First Adjustment: |
After five years |
Cap Per First Adjustment: |
5% |
Periodic Adjustments: |
One per year after fifth year |
Cap Per Periodic Adjustment: |
2% |
Lifetime Cap: |
6% over start rate |
Floor: |
None |
Assumable: |
Yes
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